BAKU, Azerbaijan, November 26. Projects for enhancing the well-being of the population continue, said Sahil Babayev, Minister of Labor and Social Protection of the Population, Trend reports.
As part of a plenary session of the Azerbaijani Parliament, the minister discussed the State Social Protection Fund's draft budget for 2025 and brought attention to the fact that next year's expenditures will be 10.5% higher than this year's.
"The average monthly pension for the upcoming year is projected to reach 535 manat [$314.7], while the average old-age pension is expected to be 571 manat [$335.8]. By the end of this year, the average old-age pension is estimated to be 527.3 manat [$310.1].
As a result of eliminating unjustified and fraudulent payments within the pension system, 955 million manat [$561.7] in unnecessary spending were prevented over the first nine months of 2024 without applying indexation. With the indexation, this figure rises to 1.36 billion manat [$800]," Babayev added.
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